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Ferguson To Repurchase Up To 375 Mln Pounds Of Shares

Ferguson PLC (FERG.L) on Friday announced share buyback of up to 375 million pounds, in continuation of a deal it has entered into with J.P. Morgan Securities to buy back shares not exceeding $2 billion.

The buyback, which is aimed to reduce the capital of the company, is commencing from June 24, and ending no later than October 10, 2022, the company said.

Ferguson also plans to use the repurchased shares to satisfy employee share awards.

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